USDCAD remains in downtrend from 0.9826
USDCAD remains in downtrend from 0.9826, the price action from 0.9568 is treated as consolidation of downtrend. Resistance is at the falling trend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 0.9500 zone. However, a clear break above the trend line resistance will indicate that a cycle bottom has been formed at 0.9568 on 4-hour chart, then range trading between 0.9568 and 0.9650 could be seen.
![](data:image/svg+xml;charset=utf-8,<svg height="300px" width="400px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
14 years ago